Amid Increasing Inflation Rates, Sony Announces a Hike in PlayStation 5 Consoles

On Thursday, Sony made an announcement in regards to increasing the price of consoles for Sony PlayStation 5.

Sony has announced that it has to increase the recommended retail price for PlayStation 5 gaming consoles on a global scale.

According to the officials, they are recording an alarming rise in the inflation rates as well as growing concerns about the global economic environment.

Due to these factors, they have decided to hike the prices for the PlayStation 5 gaming consoles.

Price Hike to be introduced in mid-September

The gaming giant from Japan has announced that they have already decided that the prices for the PlayStation 5 consoles will be hiked.

The change will not be immediate but it will be implemented from mid of September. To be precise, the hike in the prices of the consoles will be implemented from September 15, 2022.

Sony Price Hike in the United States

Despite hiking the prices of the consoles all over the world, Sony has made an announcement surrounding the price hikes in the United States.

It is good news for the customers in the United States that the prices for the consoles will not be hiked in the United States.

Sony has announced that although the inflation rates are not hiking much but are lower in the United States, they have been rising all over the world.

Due to the constantly rising pressure all over the world in terms of inflation and increasing interest rates, they had to make the harsh decision of increasing the console prices.

The situation is also the same for their company as they have to deal with higher taxes due to the increasing inflation rates.

Hike in Console Prices

For the United Kingdom, Sony has announced a hike of £30. Bringing the price of Sony PS5’s digital version up to £399.99. For the disc version, the new price will be £479.99.

The price of the Console in China will rise by 400 yuan. The price of the digital model will rise to 3,499 yuan while and 4,299 for the disc version.

In Mexico, the price has been increased by 1,000 Mexican pesos. The digital model will cost 12,499 and the disc version will cost 14,999.

In Europe, the price of the console has been increased by €50. Following the increase, the price of the digital model is €449.99 and the disc version is €549.99.

In Japan, Sony has increased the price by 5000 yen. Now, the price of the digital version is 44,980 yen while the price of the disc version is 54,980.

For Australia, the price has been hiked by 50 Australian dollars, bringing it up to 649.95 and 799.95 Australian dollars for digital and disc versions respectively.

The hike introduced by Sony in console prices may impact the stock prices for the company in the upcoming days.

At the moment, the share prices for Sony are up 0.17% and it is the impact that the company’s shares may drop in Friday’s trading session.

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